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  • Nik Wethington

SECURE Act 2.0 Bill

Updated: Dec 23, 2022

The House of Representatives passed the Securing a Strong Retirement Act of 2022 (SECURE Act 2.0) earlier this year. This bill builds on the original SECURE Act with the intention of both bills to provide additional opportunities for Americans to save for retirement. Additionally, provisions within the bill will help small business owners provide retirement options to their employees.


  • Automatic enrollment in 401(k) and 403(b) is required for plan years beginning after 2023.

  • The saver’s credit is simplified to a unified 50% credit amount with a phaseout for higher incomes.

  • Catch-up limits are being increased for plan participants aged 50 or older. There is an additional increase for participants aged 62-64, effective for tax years after 2023. Some of these increases are subject to inflation adjustments.

  • Small employers are receiving an extension to the credit for establishing an eligible retirement plan. Additionally, the credit and limits per employee are increased.

  • Required minimum distributions (RMDs) for plan participants begin at age 72. Under SECURE Act 2.0, the age is increased to 73 starting in 2023. The RMD age is further increased to 74 in 2030 and again increased to 75 in 2033.

Follow the link for more detail on SECURE Act 2.0:

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